Mark Zuckerberg warns that 5% of Meta workforce is going to be cut; and "low performers" will be targeted first.

Meta is planning to lay off about 5 percent of its workforce by targeting the company’s lowest performers in preparation for what CEO Mark Zuckerberg said will be an “intense

News reports say that social media company Meta Platforms is planning to cut 5% of total staff this year by terminating staff based on performance and hiring new workers to replace them

The layoffs will remove 5 percent of Meta's workforce as an effort to 'move out low performers faster' in preparation for 'an intense year,' said CEO Mark Zuckerberg.

Meta has had several rounds of layoffs to adjust its staffing after it hired aggressively during the pandemic. Earlier this year, it cut several jobs in Reality Labs after letting go of 11,000 employees in 2022. Last year, another 10,000 jobs were cut as CEO Mark Zuckerberg deemed 2023 a "year of efficiency."

Meta, the parent company of Facebook and Instagram, is cutting the lowest-performing 5% of its workforce and plans to fill those roles later this year, the company said in a memo.